RHODE ISLAND, June 30 - Published on Monday, June 29, 2026
Administration Opens Second Round of Homeownership Funding to Continue the Momentum
WOONSOCKET, RI— Governor Dan McKee and Secretary of Housing Deborah Goddard today announced $7.5 million in awards through the first round of the $20 million bond-funded Housing 2030 [zk8ngbyab.cc.rs6.net]Entry-Level Homeownership Program at an event held at the future site of Ballou Townhomes in Woonsocket.
The first round of awards will support the production of 172 new homes statewide and, of that total, directly funds 90 homes that will be priced under $400,000 and affordable to households earning at or below 120% Area Median Income (AMI), helping more Rhode Island families access stable, entry-level homeownership opportunities and build long-term financial security.
“My administration is all in on homeownership,” said Governor Dan McKee. “After helping more than 1,600 first-time homebuyers through our successful down payment assistance program, we’re building on that momentum with this bond funding which will create more affordable pathways to homeownership for Rhode Islanders.”
The Administration also launched the program’s second round, making an additional $12.5 million available to support the creation of entry-level homeownership opportunities and expand affordable pathways to homeownership for Rhode Islanders.
Applications for the remaining $12.5 million will open today, June 29th at 2:00 p.m. For program information and to view application materials, visit: https://housing.ri.gov/programs/entry-level-homeownership-program [zk8ngbyab.cc.rs6.net] .
“We are seeing strong momentum across Rhode Island as public, private, and nonprofit partners come together to expand affordable homeownership,” said Secretary of Housing Deborah Goddard. “The projects awarded in this first round reflect exactly the kind of development our communities need: revitalizing neighborhoods, strengthening local economies, and creating real pathways for residents to build equity, put down roots, and achieve long-term stability.”
This program provides competitive grants to for-profit and nonprofit developers, as well as public housing authorities, to expand the supply of owner-occupied housing—including single-family homes, townhomes, and condominiums—in developments of five or more units, including scattered-site proposals.
“The Ballou Townhomes project represents the kind of thoughtful investment that is helping move Woonsocket forward,” said Mayor Christopher Beauchamp. “By transforming a long-vacant industrial building into 15 new owner-occupied homes, this development will create opportunities for families to achieve homeownership while revitalizing an important property in our city. Expanding access to quality, affordable housing is critical to our continued growth, and we are grateful to Governor McKee, Secretary Goddard, and Duo Development for their partnership in making this project a reality.”
“Across Rhode Island, cities and towns are actively working to address the state's housing challenges by creating opportunities for families, supporting local employers, and helping the next generation put down roots in their communities,” said League of Cities and Towns Executive Director Randy Rossi. “Programs like this provide municipalities with practical tools to expand affordable homeownership opportunities. We are pleased to see the first round of projects advancing and encourage communities and developers to take full advantage of the funding now available.”
“This award will help us transform a long-vacant industrial building into Ballou Townhomes, creating 15 new homeownership opportunities for local families in Woonsocket,” said Jesse Jacavone of Duo Development Corporation. “We’re grateful for the state’s partnership in giving us this award that will allow us to bring an underutilized property back to life and expand access to homeownership for Woonsocket residents.”
Awarded Projects:
Hickory Knoll, Westerly — $2.2 million
Habitat for Humanity will develop 22 homes in Westerly, 18 of which will be built with modular construction. The development includes two-, three-, and four-bedroom homes serving households at 80% of Area Median Income (AMI). All homes are priced between $200,000 and $310,000. This project also received $750,000 from the state’s infrastructure program.
West & 4th Condominiums, Woonsocket — $1.9 million
JDM Holdings LLC will develop a 19-unit scattered-site condominium project in Woonsocket and West Warwick, with 15 units in Woonsocket and four in West Warwick. All units in the development are two-bedroom homes and designed to serve households earning up to 120% of AMI. Fifteen units are expected to sell for $309,000, while four larger units are anticipated to sell for $330,000.
Ballou Townhomes, Woonsocket — $1.03 million
Duo Development Corporation will convert a vacant industrial building in Woonsocket into a 15-unit townhouse development. The development includes a mix of one- and two-bedroom homes priced between $275,000 and $325,000 and are targeted to households earning at or below 120% AMI.
819 Providence Natick Schoolhouse, West Warwick — $924,000
Expo Development will rehabilitate a historic schoolhouse in West Warwick into 11 condominium units. The development includes two one-bedroom units priced at $175,000 and nine two-bedroom units priced at $349,000. All units will serve households up to 120% AMI.
Richmond Place Residences, Richmond — $900,000
CT Development will construct a 69-unit mixed-income condominium community in Richmond, across 34 buildings. The development includes 18 affordable units and 51 market-rate units, all of which will have two-bedrooms. The affordable units are restricted to households earning up to 120% AMI and are expected to sell for approximately $325,000.
The Woods at Red Brook, Coventry — $500,000
D2Homes will construct a 36-unit, two-bedroom condominium development in Coventry. The development includes five affordable units priced at $320,000 for households at or below 120% AMI, with the remaining units sold at market rate.
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